The Reserve Bank of India will release the names of banks it deems "systemically important" within the next two-three days time, said Deputy Governor R. Gandhi.

In July 2014, the RBI had said that four to six domestic lenders would be labelled systemically important, or the rough equivalent of too-big-to-fail in other countries.

Speaking to reporters on the sidelines of a banking conclave, Gandhi also said that four foreign banks had applied for a licence to adopt the wholly-owned subsidiary(WOS) model in India and the discussions are on for allowing the same.

In November 2013, RBI had released a framework for setting up of wholly-owned subsidiaries by foreign banks.

Gandhi also said RBI will come out with guidelines to allow “On tap” licensing for entities interested in setting up banks whenever they want. “After we are through with the differentiated bank licences, our next target is “on tap” regulation…one by one we will do it.”

RBI had released the final list of payments banks licence winners earlier this month and is due to put out the small finance banks licences next month.

“On tap would mean there is no closing date…at their convenience they can come to us (to apply) and we will approve it,” Gandhi said.

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